We found:

With procurement’s involvement, companies save 14.6 percent of legal spend. When procurement is well aligned and works in partnership with the in-house law department, companies save 21 percent on average. For a Fortune 500 company incurring legal fees at 1 percent of revenues, this savings translates into millions of dollars of incremental earnings.

Now is the time to begin the legal procurement journey. It takes time to drive value: Quick stints in the legal category are insufficient. Legal procurement professionals contribute the most after five years of buying legal services.